TATA GLOBAL BEV­ER­AGES

I wish to buy shares of Tata Global Bev­er­ages. Should I buy at the cur­rent price?

- Ak­shay Khanna

BUY AT CUR­RENT MAR­KET PRICE WITH STOP LOSS OF RS 192 ON A CLOS­ING BA­SIS

Tata Global Bev­er­ages is cur­rently trad­ing at Rs 219. Its 52-week high/low stand at Rs 328.80/Rs 205.75 made on Jan­uary 15, 2018 and Oc­to­ber 31, 2018 re­spec­tively. In re­cent times, the stock has been con­sol­i­dat­ing in a tight range near its sup­port zone with rel­a­tively low vol­umes. The stock has two im­por­tant sup­port zones, one placed in the region of Rs 193-197 which is 200-week EMA that stands at Rs 193 and the sec­ond one is 61.8 per cent re­trace­ment sup­port of en­tire up­move start­ing from De­cem­ber 27, 2016 to its all-time high. All in­di­ca­tors and os­cil­la­tors are also con­sol­i­dat­ing in a tight range on both weekly and daily time frames. The 14-pe­riod RSI on the weekly scale has re­cently given pos­i­tive cross­over. Con­sid­er­ing all above fac­tors, the stock is cur­rently trad­ing above its cru­cial sup­port zone of Rs 193-197, we rec­om­mend you to buy at the cur­rent mar­ket price with stop loss of Rs 192 on a clos­ing ba­sis.